Forex: The week ahead.

Forex Currencies: ***All Currency comments are based on Forex numbers.***
Euro: Well final support on the Euro has held so far and we should be on our way back to the mid 120’s by the end of this week.
The Dollars key reversal on Thursday of this week is very important. This market was able to get to 90.28 intra day and then fell all the way to 89.61 by the close of the same day. This is a clear sign of a market that is exhausted. The Dollar will be below 87.50 by the end of next week. Derek Frey 10-14-05

Euro: Continued to struggle this week but looks like it found support and now looks like it is about to have a very strong move up. Any buy in the 120 range should be a good long term hold.
US Dollar: Thursday’s key reversal should set the stage for the Dollar to break down all of next week. We are holding an 87 -85 put spread for Dec. and feel very good about this position.
Swissy: The swissy struggled this week but do not lose faith, the weakening dollar should allow the swissy to find new highs by the end of next week.
Pound Sterling: The pound has made what could be a double bottom and can now be bought. Look for a strong move here next week as well.
Yen: After a brief run above 115 the Yen seems to have reached a temporary top and could now pull back down to 112 next week.
Australian Dollar: The Australian Dollar has had a rough week and briefly pulled back below 75, but ended the week slightly above 75. This market should find its way above 76.50 by the end of next week.
Canadian Dollar: The Canadian Dollar rallied. This market should resume the bear trend this coming week as well. Sells above 118 should be good longer term holds.
Mexican Peso: The Mexican Peso broke out in the middle of the week and then failed to follow through. This is a classic head fake and could have the Peso trading as low as 10.70 early next week.

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